Agenda - Council - 02/22/2011 - Laserfiche WebLink

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COMMERCIAL EXCLUSIVE LISTING AGREEMENT SALE 91. Address City ef,Ramsey, MN 92. Page 3' 93; CERTIFICATION INDIVIDUAL TRANSFEROR 94. Section 1445 of the Internal Revenue Code provides that a transferee (buyer) of a U.S. real property interest must 95. be notified in writing, and must withhold tax if the transferor (SELLER) is a foreign person and the sale 96. price exceeds $300,000. In the event transferor (SELLER) Is a foreign person and the sale price exceeds 97. $300,000, requirements of the 1980 Foreign investment in Real Property Tax Act (FIRPTA) will be fulfilled. 98. SELLER states and acknowledges the following: 99. I am a citizen of the United States or, if a corporation, partnership or other business entity, duly incorporated in the 100. United States, or, if a partnership or business entity; formed and governed by the Taws of the United States: 101, El Yes ❑ No 102. If "No," please state country of citizenship, incorporation or the like 103. Under the penalties of perjury, I declare that I have examined this certification and to the best of my knowledge and 104. belief, it is true, correct and complete: 105. FORFEITURE OF EARNEST MONEY 106. If a buyer of the PROPERTY defaults and as a result forfeits the earnest money, SELLER shall receive 8 107- percent ( %) and BROKER shall receive 20, percent ( %) of the earnest money.: 108. COOPERATING BROKERS 109. SELLER hereby permits BROKER to share part of BROKER'S compensation with other real estate brokers, including 110. brokers only representing the buyer. 111_ CLOSING, SERVICES 112. After a purchase agreement for the PROPERTY is signed, arrangements must be made to close the transaction. 113. SELLER understands the SELLER may arrange for a qualified closing agent or attorney to conduct the closing, or 1.14. SELLER may ask BROKER to arrange for the closing: SELLER understands that SELLER;, may be required to pay 115. certain closing costs which may, effectively reduce the proceeds from the sale: SELLER has indicated his/her/its 116. choice for closing services (initial one). 117. SELLER wishes to have BROKER arrange for closing services. (Seller) (Seller) 118. SELLER shall arrange for closing services. (Seller) (Seller)' 119. MISCELLANEOUS 120. 1. This Agreement is binding upon the heirs, successors and assigns of the parties: 121. 2. All of the representations and covenants of this Agreement shall survive and be enforceable after termination of 122. this Agreement. 123, 3. In the event of any litigation instituted by SELLER or BROKER to enforce the provisions of this Agreement, the 124. prevailing party shall' recover reasonable attorneys` fees, costs and expenses from the other party. 125. 4. This Agreement constitutes the complete agreement between the parties and supersedes any prior oral or written 126. agreements between the parties relative to the provisions herein. No amendment, modification or extension of 127: this Agreement shall be valid or binding unless made in writing and signed by both SELLER and BROKER. 128. 5. This contract shall be governed by the laws of the State of Minnesota. 129 (SELLER), 130. By' (Date) (Agent) 131.. MNC :ELAS= $$,(2/09) (BROKER) (Date)